At least eight important pieces of legislation have been approved by both houses of Congress since the resumption of the third regular session in July and are currently waiting President Arroyo’s signature to become laws.

These measures include the proposed Climate Change Act of 2009, the Anti-Torture Bill, the Pre-Need Code, Real Estate Investment Trust (REIT) Bill, Legitimization of Children Born to Parents Below Marrying Age, Magna Carta for Homeowners Associations, Defining the Crime of Child Pornography, and the International Humanitarian Law Bill.

Speaker Prospero Nograles said the eight measures were among the 912 bills of national and local applications that the House of Representatives approved since last July 27 until it adjourned on October 16 for the Halloween break.

Considered as one of the most important environmental bills approved by Congress, the proposed Climate Change Act under House Bill (HB) 5982 seeks to establish a Climate Change Commission that will spearhead efforts to strengthen, integrate, consolidate and institutionalize government initiatives to achieve synergy in the implementation of climate change plans and programs.

The Anti-Torture Bill aims to end the human rights violations allegedly committed by state agents. The proposed Pre-Need Code would strengthen state regulation over the pre-need industry, protect planholders from the company’s insolvency, and deter predatory practices by the corporate officers.

The development of REITs in the country will help the capital market since it will attract investors. The authors of the measure noted that REITs are higher yielding and will provide investors with steady income streams as they are allowed to invest in income-generating assets.

HB 5279, meanwhile, seeks to legitimize children born to parents below marrying age, thereby amending a provision in the country’s Family Code that treats them as illegitimate as long as their parents are unable to legally marry each other.